09 May, 2025
ITAT Confirms ₹54 Crore Tax Attachment in PWD Scam Case In a major development, the Income Tax Appellate Tribunal (ITAT) upheld a tax attachment of ₹54 crore in 900 accounts linked to Buldana Urban Co-operative Credit Society. The ITAT order reinforces the Income Tax Department’s power to freeze suspicious bank accounts pending investigation under Section […]
Read More09 May, 2025
₹50 Lakh Seized in Car: What Hathras Raid Reveals About Cash Compliance The recent Income Tax cash seizure in Hathras—where officers confiscated ₹50 lakh from a car and detained two individuals—has once again brought the spotlight on the legal limits of cash transactions and the risks of non-compliance. Let’s break down the law behind such […]
Read More07 May, 2025
The Wait for GSTAT Nears Its End The Goods and Services Tax Appellate Tribunal (GSTAT) is finally on track to become operational after nearly eight years of GST implementation. Meant to reduce litigation load on High Courts, GSTAT will provide faster resolution of GST disputes with subject-matter expertise. 📜 Constitutional Backing for GST Tribunals The […]
Read More07 May, 2025
SCOMET Stock & Sale: What Changed Under DGFT’s New Framework? The Directorate General of Foreign Trade (DGFT) has issued a policy update to Para 10.10 of the Handbook of Procedures (HBP) 2023, introducing a revised framework for Stock and Sale Authorisation (SSA) of SCOMET items. What Are SCOMET Items? SCOMET (Special Chemicals, Organisms, Materials, Equipment, […]
Read More07 May, 2025
Simplified Jewellery Export-Import Rules in 2025: What Indian Businesses Must Know Starting May 2025, CBIC has introduced a streamlined customs clearance system for gems, jewellery, samples, and prototypes via personal carriage. This change, announced via Public Notice No. 06/2025, aims to ease export-import formalities, especially for MSMEs and exporters traveling with high-value goods. Let’s break […]
Read More07 May, 2025
The ₹111 Cr Sales Tax Scam: What It Means for Businesses A recent sales tax evasion case involving an Andheri-based scrap dealer has brought the spotlight back on fake invoicing and GST compliance failures. The accused allegedly used shell firms and bogus purchase bills to claim massive input tax credit (ITC), resulting in a ₹111 […]
Read More07 May, 2025
India Blocks All Trade with Pakistan under FTP Para 2.20A In a significant geopolitical and trade move, the Indian Government has completely banned imports from Pakistan. This decision was formalised through Instruction No. 07/2025-Customs, issued by CBIC under the Foreign Trade Policy (FTP), Para 2.20A. This import ban reflects India’s evolving stance on trade, national […]
Read More07 May, 2025
IntroductionThe GST on online gaming debate has reached the Supreme Court again, with the Centre strongly reiterating that anything involving money qualifies as gambling. During the latest hearing, the government presented a new doctrine—the ‘Seven Sutras’—to justify why games involving stakes must fall under the highest 28% GST slab. Let’s break down the issue, legal […]
Read More07 May, 2025
Minimum Tax Rules in India: Old vs New Law The focus keyphrase minimum tax rules is gaining attention again—thanks to Clause 206 of the Income-tax Bill, 2025. This clause attempts to align older tax frameworks like MAT (Minimum Alternate Tax) under Section 115JB and AMT (Alternate Minimum Tax) under Section 115JC with new principles of […]
Read More07 May, 2025
Returning NRIs? Know the New Concessional Tax Regime Concessional tax regime for NRIs has always been a niche yet crucial part of Indian tax law. With the introduction of Clause 217 of the Income Tax Bill, 2025, the landscape has shifted. This clause redefines the tax treatment available to non-resident Indians (NRIs) becoming residents — […]
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